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| A tangible product that we can see, touch, smell, hear, or taste. |
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| Include features, functions, benefits, and uses of a product. Marketers view products as a bundle of attributes that includes the packaging, brand name, benefits, and supporting features in addition to a physical good. |
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| All the benefits the product will provide for consumers or business customers. |
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| The physical good or the delivered service that supplies the desired benefit. |
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| The actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale. |
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| Consumer products that provide benefits over a long period of time, such as cars, furniture, and appliances. |
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| Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as newspapers). |
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| A consumer good or service that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort. |
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| Basic or necessary items that are available almost everywhere. |
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| A product people often buy on the spur of the moment. |
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| Products we purchase when we're in dire need. |
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| Goods or services for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase. |
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| Computer programs that find sites selling a particular product. |
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| Goods or services that has unique characteristics and is important to the buyer and for which they will devote significant effort to acquire. |
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| Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to their attention. |
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| Expensive goods that an organization uses in its daily operations that last for a long time. |
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| maintenence, repair, and operating (MRO) products |
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| Goods that a business customer consumes in a relative short time. (light bulbs, mops, cleaning supplies) |
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| Products of the fishing, lumber, agricultural, and mining industries that organizational customers purchase to use in their final products. |
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| products created when firms transform raw materials from their original state. (using lumber to create a deck) |
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| Manufactured goods or subassemblies of finished items that organizations need to complete their own products. (computer manufacturers need silicon chips to make a computer. |
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| A product that consumers perceive to be new and different from existing products. |
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| A modification of an existing product that sets one brand apart from its competitors. |
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| A new product that copies, with slight modification, the design of an original product. |
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| dynamically continuous innovation |
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| A change in an existing product that requires a moderate amount of learning or behavior change. |
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| A totally new product that creates major changes in the way we live. |
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| The coming together of two or more technologies to create a new system with greater benefits than its separate parts. |
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| new product development (NPD) |
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| The phases by which firms develop new products including idea generation, product concept development and screening, marketing strategy development, business analysis, technical development, test marketing, and commercialization. |
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| The first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission. |
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| product concept development and screening |
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| The second step of product development in which marketers test product ideas for technical and commercial success. |
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| The step in the product development in which marketers assess a product's commercial viability. |
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| The step in the product development process in which company engineers refine and perfect a new product. |
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| test versions of a proposed product. |
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| A legal mechanism to prevent competitors from producing or selling an invention, aimed at reducing or eliminating competition in a market for a period of time. |
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| Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter. |
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| The final step in the product development process in which a new product is launched into the market. |
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| the process by which a consumer or business customer begins to buy and use a new good, service, or idea. |
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| The process by which the use of a product spreads throughout a population. |
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| in the context of product diffusion, the point when a product's sales spike from a slow climb to an unprecedented new level, often accompanied by a steep price decline. |
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| A massive advertising campaign that occurs over a relatively short time frame. |
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| A purchase made without any planning or search effort. |
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| The degree to which a consumer perceives that a new product provides superior benefits. |
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| The extent to which a new product is consistent with existing cultural values, customs, and practices. |
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| The degree to which consumers find a new product or its use difficult to understand. |
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| The ease of sampling a new product and its benefits. |
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| How visible a new product and its benefits are to others who might adopt it. |
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